My Best Pick 2016

Rajat Rajgarhia

Rajat Rajgarhia of Motilal Oswal on why he increasingly thinks Voltas is a cool stock to own

Soumik Kar

Selling air conditioners (ACs) is not exactly a cool job, but Pradeep Bakshi has worked remarkably hard to ensure that Voltas maintains its leadership position in the domestic aircon market after making it to the top in FY13 (May 2012, to be precise). In 2006, Voltas, which had by then sold off its refrigerator and washing businesses, was faced with the prospect of shutting down its AC division, which was then clocking sales of ₹500 crore and incurring an operating loss of ₹34 lakh. The Koreans, Japanese and Americans had entered the domestic market and edged Voltas out from the Top 5 ranking. The adverse turn of events saw the management give Bakshi the task of turning around the business or selling it off. Bakshi, of course, chose the more challenging option.